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Sentiment · FY2025 Q4
As of FY2025 Q3, the Tellvest earnings-call sentiment score for Intuitive Machines, Inc. (LUNR) is 2/10, down 3 points from the prior quarter.
Intuitive Machines used its Q3 2025 update to announce a definitive agreement to acquire Lanteris Space Systems (formerly Maxar Space Systems) for $800 million -- $450 million in cash and $350 million in stock -- a transformative deal management framed as immediately accretive to revenue, adjusted EBITDA and free cash flow and expected to close in Q1. Reported third-quarter revenue was $52.4 million, down from a year earlier as government-shutdown uncertainty and program timing weighed on the top line, while gross margin of $5.7 million and a net loss of $10 million (adjusted EBITDA negative $13.2 million) marked sequential improvement over an EAC-heavy Q2. Management guided Q4 revenue in line with Q3, citing the shutdown's impact on year-end revenue, and deferred a full outlook for the combined 2026 company to early next year, a soft near-term signal that tracks the full year below its previously communicated path. Backlog closed at $235.9 million and the company ended the quarter with $622 million of cash after an August $345 million convertible note offering, positioning it to fund the combination. Strategically the quarter recast Intuitive Machines as a next-generation space prime targeting national-security programs such as Golden Dome and the Space Development Agency layered architecture alongside its lunar and NASA franchises.
Scored from Intuitive Machines, Inc.’s FY2025 Q3 earnings call. The newest quarter is available with Tellvest Pro.
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| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $55M | +80.1% | $-1.72 | -541.0% | -18.3% | -270.2% | $-7M |
| FY2025 Q1 | $63M | -14.4% | $-0.11 | +95.9% | -16.1% | -18.2% | $13M |
| FY2025 Q2 | $50M | +21.5% | $-0.24 | -182.8% | -56.9% | -76.7% | $-27M |
| FY2025 Q3 | $52M | -10.3% | $-0.06 | +91.4% | -29.4% | -13.0% | $-19M |
| FY2025 Q4 | $45M | -18.6% | $-0.34 | +80.2% | -73.9% | -89.4% | $-23M |
| FY2026 Q1 | $187M | +198.7% | $-0.25 | -127.3% | -21.0% | -20.1% | $-65M |
| FY2026 Q2 | $206M | +309.8% | $-0.29 | -20.8% | -22.9% | -22.5% | $-84M |